Bitcoin's Price Drops From March High Amidst Market Volatility And Regulatory Challenges.

Bitcoin (BTC) is presently grappling with maintaining its price above the $60,000 threshold amidst persistent sell-offs across the broader market.

Introduction Bitcoin, the trailblazing cryptocurrency that ignited the digital currency revolution, has recently faced a challenging period, experiencing a downturn that saw its price slide over four percent in just 24 hours. This decline saw Bitcoin revisiting the crucial support range between $62,000 and $61,000.

In a whirlwind of positive news, Bitcoin broke through the $66,000 barrier, propelled by significant milestones in its journey towards mainstream acceptance. The long-anticipated approval of Bitcoin and Ethereum spot exchange-traded funds (ETFs) in Hong Kong sent ripples of excitement across the crypto sphere.

Over the past 24 hours, Bitcoin's price has taken a dip, trading between $62,332.07 and $66,878.65 before settling at $63,000. This represents a 4.52% decline within a single day and a significant 11.33% drop over the course of the week.

The price of Bitcoin tumbled below $63,000 during Tuesday's market bloodbath as momentum slowed in the run-up to the network's much-awaited miners' rewards halving event.

Bitcoin recently dropped from its March peak, influenced by a stronger U.S. dollar and geopolitical issues. What should we expect next?